PJT Partners (NYSE:PJT) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday, Zacks.com reports. The brokerage currently has a $77.00 price target on the financial services provider's stock. Zacks Investment Research's price objective would suggest a potential upside of 13.67% from the company's current price.
According to Zacks, "PJT Partners Inc. is a financial advisory firm. The Company offers strategic advisory, restructuring and reorganization, fund placement and funds advisory services to corporations, financial sponsors, institutional investors and governments. PJT Partners Inc. is based in NEW YORK, United States. "
Other equities analysts also recently issued research reports about the stock. JMP Securities upped their price objective on shares of PJT Partners from $70.00 to $80.00 and gave the company an "outperform" rating in a research note on Wednesday, October 28th. ValuEngine downgraded shares of PJT Partners from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, TheStreet raised shares of PJT Partners from a "c" rating to a "b-" rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of "Buy" and a consensus price target of $67.00.
Shares of PJT stock traded down $0.99 during trading hours on Friday, hitting $67.74. The company's stock had a trading volume of 231,570 shares, compared to its average volume of 166,864. The business has a fifty day moving average of $67.52 and a 200-day moving average of $57.55. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 26.56 and a beta of 0.95. PJT Partners has a twelve month low of $23.63 and a twelve month high of $76.45.
PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, October 27th. The financial services provider reported $1.36 EPS for the quarter, beating the consensus estimate of $0.80 by $0.56. The business had revenue of $297.56 million for the quarter, compared to analyst estimates of $205.99 million. PJT Partners had a net margin of 7.50% and a return on equity of 23.22%. On average, analysts anticipate that PJT Partners will post 3.34 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC purchased a new position in PJT Partners during the second quarter worth approximately $26,000. Private Advisor Group LLC purchased a new position in shares of PJT Partners in the 2nd quarter valued at $33,000. Smith Asset Management Group LP purchased a new position in shares of PJT Partners in the 3rd quarter valued at $101,000. New York State Teachers Retirement System purchased a new position in shares of PJT Partners in the 2nd quarter valued at $103,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in shares of PJT Partners in the 3rd quarter valued at $103,000. 68.35% of the stock is currently owned by institutional investors.
About PJT Partners
PJT Partners Inc, an investment bank, provides various strategic and shareholder advisory, restructuring and special situations, and private fund advisory and fundraising services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers a range of financial advisory and transaction execution capability, including mergers and acquisitions, joint ventures, minority investments, asset swaps, divestitures, takeover defenses, corporate finance advisory, private placements, and distressed sales.
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